What to Look for When Purchasing Trading Software & Education
As a new or experienced trader, knowing where to spend your money when buying education and trading software can be the difference between success and failure. The selection of companies and software is a vast sea of options. Every company claims they can improve your trading and help you make more money when you trade. But how do you tell a professional from a snake-oil salesman? By asking the right questions, you’ll be well on your way to joining forces with an excellent company. See below for the top 6 questions you should ask when selecting a company.
#1. Does the company provide a turnkey solution?
In this situation, when I use the word “turnkey”, I mean a solution that is easily implemented into your regular activities. Knowing the ease of the installation process and how long it takes to get up and running is important. What kind of support does the company have? Ask around and see if anyone in your trade community knows of the track record of the company. All good companies should also give their clients access to a live trade room where you can learn real time strategy. Many of them charge extra for this privilege, which is a good thing to find out up front before you purchase any software.
#2. Are they willing to share their performance history?
Another important factor in your company and trading partner is their performance history. Anyone can claim to have success, but the results should speak for themselves. Research as much as you can on their website, youtube channel, and other social media channels to see if they post trading videos or live trade recaps. If they are unwilling or unable to share this information with you, it might be time to move on.
#3. Are they willing to allow communication to current members?
The strength of a company’s reputation is best seen through the confidence of their customers. If a company has mostly satisfied and successful customers, why wouldn’t they let you talk to them? Contact the owner of the company and ask how you can connect with their clients. Be ready with a list of questions once you’ve got their contact info to make sure you get the most out of your meeting.
#4. What does their online history look like?
Check the company’s history of online activity to make sure their brand represents you. Visit their company website, check out their Facebook, Google the company name and see what pops up. You’ll want to choose someone with valuable content and plenty of videos. Are they supported by any industry partnerships? They say you can judge a person by the company they keep, the same can be said for a company’s partners.
#5. How quick is the turnaround with their support?
Quick turn-around time with support tickets and response emails can make or break an online software company. If you have to wait 3 days for a response, that’s 3 days you’re not able to work. You can ask current members about their experience, read testimonials, or submit a general inquiry through their website form to gauge the response time for yourself.
#6. Is the software and training easy to understand?
This one is very subjective. Different companies have different approaches; some may click for you but not for other individuals. Review their website, talk with their support or the company owner, and watch some of their videos. Their content will give you a feel for their business model and trading approach. Join their email list and see if they offer live webinars. Learn as much as you can so you can make an informed decision. With the right partner, you’ll be well on your way to your own trading success.
#1. Does the company provide a turnkey solution?
In this situation, when I use the word “turnkey”, I mean a solution that is easily implemented into your regular activities. Knowing the ease of the installation process and how long it takes to get up and running is important. What kind of support does the company have? Ask around and see if anyone in your trade community knows of the track record of the company. All good companies should also give their clients access to a live trade room where you can learn real time strategy. Many of them charge extra for this privilege, which is a good thing to find out up front before you purchase any software.#2. Are they willing to share their performance history?
Another important factor in your company and trading partner is their performance history. Anyone can claim to have success, but the results should speak for themselves. Research as much as you can on their website, youtube channel, and other social media channels to see if they post trading videos or live trade recaps. If they are unwilling or unable to share this information with you, it might be time to move on.
#3. Are they willing to allow communication to current members?
The strength of a company’s reputation is best seen through the confidence of their customers. If a company has mostly satisfied and successful customers, why wouldn’t they let you talk to them? Contact the owner of the company and ask how you can connect with their clients. Be ready with a list of questions once you’ve got their contact info to make sure you get the most out of your meeting.#4. What does their online history look like?
Check the company’s history of online activity to make sure their brand represents you. Visit their company website, check out their Facebook, Google the company name and see what pops up. You’ll want to choose someone with valuable content and plenty of videos. Are they supported by any industry partnerships? They say you can judge a person by the company they keep, the same can be said for a company’s partners.
#5. How quick is the turnaround with their support?
Quick turn-around time with support tickets and response emails can make or break an online software company. If you have to wait 3 days for a response, that’s 3 days you’re not able to work. You can ask current members about their experience, read testimonials, or submit a general inquiry through their website form to gauge the response time for yourself.
#6. Is the software and training easy to understand?
This one is very subjective. Different companies have different approaches; some may click for you but not for other individuals. Review their website, talk with their support or the company owner, and watch some of their videos. Their content will give you a feel for their business model and trading approach. Join their email list and see if they offer live webinars. Learn as much as you can so you can make an informed decision. With the right partner, you’ll be well on your way to your own trading success.